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Rapper 50 Cent Files For Bankruptcy

Rapper 50 Cent, also known as Curtis James Jackson III, filed for chapter 11 bankruptcy protection in the US Bankruptcy Court in Hartford, Connecticut. According to documents obtained by the Wall Street Journal, 50 Cent reported that his current assets and debts were “in the range of $10 million to $50 million”.

This filing comes days after 50 Cent was ordered to pay $5 million to Lastonia Leviston, the mother of his rival Rick Ross’ child. 50 was sued for leaking a compromising tape that she recorded a few years ago with her boyfriend. Leviston supposedly struggled with suicidal thoughts after the video was released.

A big surprise

The rapper was popular for his business savviness. He reportedly made between $60 and $100 million when VitaminWater, in which he was an investor, was sold to Coca-Cola. At the end of 2014, 50 Cent closed a $78 million deal with FRIGO Revolution Wear, an underwear company. The frequent Forbes list honoree had an estimated net worth of $155 in May.

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Tougher times

Last year, the rapper lost a three-year lawsuit in which a headphones company sued him for copying a design. He was ordered to pay $16 million.

People’s reaction on Twitter is hilarious

Here are a few funny tweets we came across.

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